HFM (HF Markets) Review 2024: Pros & Cons

HFM exchange, formerly known as HotForex, was founded in 2010 and is currently a part of HF Markets Group, based in Cyprus. In 2020, HFM was selected as one of the top five brokers. Since its founding, it has consistently expanded rapidly and gained the confidence of the pickiest traders. Now, let’s learn about the reviews of the HFM trading platform with Betomon.

What is HotForex (HFM)?

HFM, initially referred to as HotForex, is a trading platform that is managed by the HF Markets Group, founded in 2010 and has its headquarters in St. Vincent and the Grenadines. It also has multiple global offices in Dubai, South Africa, the United Kingdom, and the Seychelles.

HFM has received 45 prizes and titles in its more than ten years of operation, including numerous prestigious awards from financial magazines with a global reputation. Besides, the company was voted into the Top 100 International Companies of World Finance.

The key benefit of HFM is that it offers financial services with 18 trading tools and over 1200+ products including Forex, Metals, indices, stocks, DMA securities, ETFs… with over 27 different languages, 2 million visits per month from all over the world.

Review of reputable foreign exchange HotForex

Furthermore, traders with an interest in King sports will be aware that HFM is the official partner and sponsor of Paris Saint-Germain, the top French football team, for the 2020–2021 season. Additionally, HFM actively takes part in community campaigns with many humanitarian associations such as Unicef and the Red Cross,…

Due to its accomplishments and awards as well as excellent customer service, competitive transaction fees, which HFM has worked hard to enhance over the years, this broker is winning the respect and confidence of numerous traders worldwide.

An overview of the HFM exchange

Reputation level – Certificates and operating licenses of HFM

In the industry, HFM is regarded as a trustworthy Forex trading platform. It has been granted not only 1 but 7 operating licenses by the most prestigious financial management agencies in the world, including FCA, CySEC, DFSA, FSCA, and FSA, the number is quite impressive, comparable to TXB’s.

The following is a list of regulatory agency licenses that HFM has received:

• HF Markets (SV) Ltd was established in St. Vincent & Grenadine and the license issued by FSA SVG under registration number 22747 IBC 2015
• HF Markets (DIFC) Ltd is licensed by the Dubai Financial Services Authority (DFSA) (Dubai) under registration number F004885.
• HF Markets (Europe) Ltd is licensed by CySEC (Cyprus) under registration number 183/12
• HF Markets (UK) Limited authorized by FCA (UK) under registration number 801701
• HF Markets (SV) Ltd issued by FSC (Mauritius) under registration number C110008214
• HF Markets SA (PTY) Ltd is licensed by the Financial Sector Conduct Authority (FSCA) in South Africa under registration number 46632
• HF Markets (Seychelles) Ltd is authorized by the Financial Services Authority (FSA) (Seychelles) under registration number SD015.

The HFM customer protection policy

Insurance mechanism in case of the exchange declares bankrupt

HFM must abide by the EU’s Anti-Money Laundering Directive and the Financial Instruments Directive 2014/65/EU, also known as MiFID II, since it is regulated by the EU financial authority with a CySEC license in order to offer traders protection through the Investor Compensation Fund (CIF), up to a €20,000 maximum coverage amount.

Together with the mentioned mandatory insurance mechanism, HFM also guarantees its reputation and accountability to clients and third parties by entering into a Civil Liability insurance program up to 5,000,000 Euro with Renaissance Insurance Brokers, an insurance provider that specializes in serving brokers in Cyprus.

“Market-leading coverage against errors, omissions, negligence, fraud and many other risks that can lead to financial loss” is one of the benefits of this policy.

Segregated accounts mechanism

Similar to the majority of reliable Forex trading platforms, HFM features a mechanism for segregated accounts. All of the funds from customers are directly transferred to large bank accounts that are kept apart from the company’s accounts.

This system guarantees that HFM will not use client resources for other purposes. This will also serve as proof for reimbursement under regulations if HFM becomes insolvent.

Protect Accounts from negative balances

While it is not a requirement for Forex brokers, HFM still maintains a policy of ensuring client accounts against negative balances- another positive aspect of this broker. Thus, “HFM customers do not suffer any losses on negative balance settlement, even in highly fluctuating markets when margin and stoploss no longer function correctly.”

Associate with large banks and conduct independent audits

HFM always guarantees liquidity for its clients by utilizing the services of large banks worldwide.

HFM uses a third-party auditor (Deloitte, one of the Big Four global auditing firms), which contributes to the transparency and openness of all documentation. As a result, customers and regulatory organizations will find its operations and revenue reports to be more intelligible.

Trading products on the HFM exchange

HFM offers a wide range of trading products to diversify investment portfolios and provide the best trading opportunities. Including:

• Foreign exchange (Forex): 50 trading currency pairs. You can leverage up to 1:1000 with Micro accounts and 1:500 with other account types.
• Metals: HFM provides trading products such as metals spot contracts for Gold, Silver, Platinum. Palladium is traded separately or traded with USD and EUR such as: XAUUSD, XAUEUR, XAUEUR…
• Energy: HFM offers customers 2 trading products involving Brent Oil and crude oil via 2 spot energy contracts: UK Brent Oil and USD Crude Oil.
• Index: Although HFM offers a limited selection of index products, it still offers spot index contracts and index futures contracts that give access to popular indexes as the Germany 30, Japan 225, and SPX 500.
• Stocks: HFM offers 54 distinct stock codes for derivatives trading, including the majority of the world’s largest corporations’ stocks that you might be interested in, such as: Apple, Amazon, Alibaba, Google, Ebay, Adidas,… The maximum trading volume is 5000 shares.
• Commodities: 5 commodity futures contracts are available, consisting of US cocoa, coffee, copper, US cotton No. 2, and sugar #11.
• Bonds: HFM provides three types of bonds: Euro Bund, UK Gilt, and US 10-year. You can find detailed information on the expiration date of each kind of contract on the HFM website.
• DMA stocks: This is a new trading product of HFM. Spot DMA stock contract trading is provided by HFM in numerous nations, including the Netherlands, France, United Kingdom, Spain, Germany, USA-NYSE and USA-NASDAQ, Ireland with hundreds of different contract codes.
• ETFs: HFM offers a wide range of ETFs across multiple fields, with 34 contract models.

Types of accounts on the HFM exchange

HFM currently has 6 different types of accounts. Each account type will have specific features, allowing traders to select the account type that best meets their needs. Betomon will describe the characteristics of each account type as follows:

MICRO account

• Minimum deposit: 5$.
• Maximum financial leverage: 1:1000.
• Spread: 1 pip.
• Minimum order lot number: 0.01 Lot.
• Maximum total trading volume: 7 standard lots.
• Maximum number of spontaneous orders: 150.
• Commission fee: 0

PREMIUM account

• Minimum deposit: 100$.
• Maximum financial leverage: 1:500.
• Spread: from 1 pip.
• Minimum order lot number: 0.01 Lot.
• Maximum total trading volume: 60 standard lots/position.
• Maximum number of spontaneous orders: 300.
• Commission fee: 0

ZERO SPREAD account

• Minimum deposit: 200$.
• Maximum financial leverage: 1:500.
• Spread: from 0 pips.
• Minimum order lot number: 0.01 Lot.
• Maximum total trading volume: 60 standard lots/position.
• Maximum number of spontaneous orders: 500.
• Commission fee: from 6 $/lot.

AUTO account

• Minimum deposit: 200$.
• Maximum financial leverage: 1:500.
• Spread: from 1 pips.
• Minimum order lot number: 0.01 Lot.
• Maximum total trading volume: 60 standard lots/position.
• Maximum number of spontaneous orders: 300.
• Commission fee: 0

PAMM account

• Minimum deposit: 25$.
• Maximum financial leverage 1:300.
• Spreads: range from 1.1 pips with Premium accounts, from 0.3 pips with additional Premium accounts.
• Minimum order lot number: 0.01 lot.
• Minimum trading volume: 0.01.
• Trading fees: 0 or $10/lot/2-way (with additional Premium accounts).

HFCOPY account

• Minimum deposit: $500 for makers, $100 for copyers.
• Maximum financial leverage 1:400.
• Spreads: from 1 pip.
• Minimum trading volume: 0.01 lot.
• Minimum trading volume: 0.01.
• Transaction fees: 0

In conclusion

Experienced investors all over the world currently rank HFM as one of the top 5 most prestigious and professional trading platforms.

Indeed, with the previous information, you surely understand that the HFM trading platform (hotforex exchange) has all the features that are suitable for different subjects and trading styles, from beginners searching for the foreign exchange market to the most experienced traders, even better for those who want to invest but don’t want their money to be passive. Betomon hopes you are able to seek out an account that matches your trading purposes. Wish you success!

Betomon is a website that reviews, analyzes and knowledge shares about safe and stable financial investment projects on the theme of crypto forex blockchain… Projects to make money online for free

Visit the website betomon.com or register to receive the latest information here.